Nifty 3515.35
If the level 3500 is not violated in the downside, Nifty is likely to bounce from current levels. On the upperside, it could test 3530 and 3552. Nifty has to stay above 3552 level for further upside.
If the level 3500 is broken, and if Nifty fails to sustain above 3500 level, then in the downside it could test 3440.
Gujarat Ambuja 116.95
The short term trend is looking bullish and it has potential of testing 140 initially in coming trading sessions. Buy on decline with a stop at 112.
M&M 677.95
The short term trend is looking bullish and it has potential of testing 760 initially in coming trading sessions. Buy on decline with a stop at 650.
NDTV 214.00
The short term trend is looking bullish and it has potential of testing 280 initially in coming trading sessions. Buy on decline with a stop at 203.
Reliance Capital 567.70
The short term trend is looking bullish and it has potential of testing 650 initially in coming trading sessions. Buy on decline with a stop at 540.
Bharat Forge 356.80
The short term trend is looking bullish and this scrip could test 400 in coming trading sessions. Buy with a stop at 345.
DELIVERY CALLS
Cg Igrashi 155.30
The scrip is in long term bull market and it has good potential in the long run.
The short term trend is looking bullish and it has potential of testing 250 initially in coming months. Buy with a stop at 140.
Jyoti structures 114.45
The scrip is in long term bull market and it has good potential in the long run.
The short term trend is looking bullish and it has potential of testing 150 initially in coming months. Buy on decline to wards 105 with a stop at 95.
Rajshree sugar 102.40
The long term trend in this scrip is looking bullish.
The short term trend would remain bullish as long as this scrip stays above 80 level. Buy on decline towards 90 with a stop at 80 for a target of 150 initially in coming months.
Medium term Outlook of Nifty
The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. The correction in this type of market would be sharp and shallow and also corrections would be retraced immediately.
So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3300. Also, as long as Nifty stays above 3200 level, the long term trend of the market would be bullish and it has good potential in the upside in coming years.
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